This new order is in addition to the SimCorp Dimension system that is already in use in the bankâs insurance arm, s Versicherung. Based in Vienna, the insurance subsidiary licensed the SimCorp Dimension system a year ago to provide seamless processing for its asset management operational activities.
At Erste-Sparinvest the software will be used enterprise-wide, from front to back office, to manage both mutual and institutional funds.
âSimCorp Dimension will become our software platform for depositary banking and asset management,â explains Mag. Heinz Bednar, CEO of Erste-Sparinvest. âThis decision was made after we had conducted a thorough review of the market and had observed the system in use in other customer sites.â
âWe are delighted that the Erste Bank Group is our first Austrian customer in depositary banking as well as in the fund management area,â says Dr. Jochen MÃ¼ller, managing director of SimCorp GmbH. âThe flexibility of SimCorp Dimension will enable the Group to use the system across the various countries that the bank is in operation as well as supporting all its different areas of asset management.â